COVID-19 Impact Affects Military Radar Market Globally in 2020

The global Military Radar Market size is expected to reach USD 19.56 billion by 2026, exhibiting a CAGR of 4.21% during the forecast period. The increasing focus of manufacturers towards dual-band radar systems owing to its frequency diversity and resource sharing will be a key factor in boosting the Military Radar Market trends. For instance, the system was first installed in the U.S. Navy, capable of operating simultaneously on two frequency bands, named S-band and X-band.

The benefits offered by the dual-band radar systems such as improved reliability, ease of maintenance, and unmanned operation will impel major companies to manufacture military radars. For instance, in January 2019, Raytheon Company received USD 98.8 million contracts from the U.S. Navy. The contract includes perpetual research and development support for the Army-Navy Transportable Radar Surveillance Control Model-2 and Sea-Based X-Band radar. This contract will aid in the healthy growth of the market in the foreseeable future.

According to the report, published by Fortune Business Insights(TM) in a report, titled "Global Military Radar Market Size, Share & Industry Analysis, By Platform (Land Radar, Naval Radar, and Airborne Radar), By Range (Long, Medium, Short, and Very Short), By Application (Airspace Monitoring & Traffic Management, Weapon Guidance, Ground Surveillance & Intruder Detection, Airborne Mapping, Navigation, Others), By Frequency Band (UHF/VHF, L-Band, S-Band, C-Band, X-Band, and Ku/K/Ka-Band), By Component (Antenna, Transmitter, Duplexer, Receiver, Others), and Regional Forecast, 2018-2026" the market size stood at USD 14.07 billion in 2018.

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List of Major Companies Profiled in the Military Radar Market are;

Aselsan AS
BAE Systems
Harris Corporation
Israel Aerospace Industries
Leonardo SPA
Lockheed Martin Corporation
Northrop Grumman Corporation
Raytheon Company
Saab AB
Terma A/S
Thales Group
The report provides an all-encompassing summary of the Military Radar Market size. An all-inclusive and detailed study of innovations and advancements that took place in recent times. It provides profound data and statistics on various aspects of the market and offers dynamic insights into the prevailing trends of the market. It delivers information on market drivers, market restraints, industry developments, and segmentation besides sharing insights on the competitive ranking of key players.

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Increasing Modernization Initiatives and Programs to Offer Lucrative Business Opportunities

The growing government initiatives for upgrading existing systems and equipment as pre-existing equipment in the military have become obsolete. This factor is fuelling demand for military radar. Furthermore, the rapid surge in modernization programs such as the Philippines (AFP) modernization program, the Indian government military modernization program, and the U.S. modernization program will create lucrative sales opportunities. For instance, India is planning to spend USD 150 billion in the next ten years to modernize its military equipment and infrastructure. Additionally, the up-gradation of conventional systems with advanced technology-based systems is expected to accelerate the radar market growth.

Growing Concern Regarding Border Security will Stimulate Healthy Growth

The increasing focus of countries towards strengthening their defence domain will facilitate the growth of the market. The increasing border security issues and transnational security threats will further promote the adoption of military radar. Maritime disputes in South China Sea, and border disputes in Asia Pacifc and Middle East will shift the focus towards increasing their defence expenditure for instance, in 2018, Government of India had spent around USD 54 billion on defence sector for development and infrastructure facility for the armed forces and further improving combat capabilities.

The country procured a broad range of systems and equipment such as weapons systems, missiles, fighter jets, submarines and warships, drones, radar systems, and surveillance equipment. Similarly, China is also spending a huge amount of money on its defence systems and infrastructure. For instance, in 2018, China spent around USD 175 billion in its defence domain.

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Detailed Table of Content:

Introduction
Research Scope
Market Segmentation
Research Methodology
Definitions and Assumptions
Executive Summary
Market Dynamics
Market Drivers
Market Restraints
Market Opportunities
Key Insights
Key Industry Developments - Key Contracts & Agreements, Mergers, Acquisitions and Partnerships
Latest technological Advancements
Porters Five Forces Analysis
Value Chain Analysis
Global Military Radar Market Analysis, Insights and Forecast, 2015-2026
Key Findings / Summary
Market Analysis, Insights and Forecast - By Platform
Land Radar
Naval Radar
Airborne Radar
Market Analysis, Insights and Forecast - By Range
Long
Medium
Short
Very Short
Market Analysis, Insights and Forecast - By Application
Airspace Monitoring & Traffic Management
Weapon Guidance
Ground Surveillance & Intruder Detection
Airborne Mapping
Navigation
Others
Market Analysis, Insights and Forecast - By Frequency Band
UHF/VHF
L-Band
L-Band
C-Band
X-Band
Ku/K/Ka-Band
Market Analysis, Insights and Forecast - By Components
Antenna
Transmitter
Duplexer
Receiver
Others
Market Analysis, Insights and Forecast - By Country
North America
Europe
Asia Pacific
South America
Middle East & Africa
TOC Continued...!

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